On 28 June 2019, the Company announced that it has entered into an agreement with Motion Acquisition Ltd pursuant to which Motion Acquisition Ltd will acquire the entire issued and to be issued share capital of the Company, other than the Company shares owned or controlled by Kirkbi.
Motion Acquisition Ltd is owned by Kirkbi, a wholly owned subsidiary of KIRKBI A/S, the private holding and investment company of the Kirk Kristiansen family which manages the LEGO brand, private equity giant Blackstone Core Equity Partners and Canadian pension fund CPPIB.
The announcement comes just weeks after activist shareholder ValueAct Capital called on the company to find a private buyer.
Considering that the Company’s share price seems to be undervalued on the market, the price offered by the buyer comprises a significant premium for shareholders. Thus, we recommend to vote in favour of the deal.
ITEM 1 General meeting is similar to ITEM 1 Court Meeting for Independent Shareholders (Merlin Shareholders, other than KIRKBI or its nominees) which is called at 11:00 a.m. at the same location
Merlin Entertainment is a visitor attraction operator. Co. delivers two types of visitor experiences that it manages across three Operating Groups. Co.'s Midway Attractions operating group is primarily indoor attractions located in city centres, resorts or shopping malls, providing visits of shorter duration. Co.'s Theme Parks are outdoor attractions providing accommodation, rides, shows and interactive experiences around a central theme. They are managed in two Operating Groups: LEGOLAND Parks and Resort Theme Parks. LEGOLAND Parks are targeted at families with younger children and have LEGO as the central theme. Resort Theme Parks are targeted at families, teenagers and young adults.
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Le Conseil d'administration, réuni le 25 mai 2020, a pris la décision de ne plus distribuer de dividende au titre de l'exercice 2019. Résolution soutenue par Proxinvest. La précédente étude de Proxinvest avait alerté la société sur le manque de lisibilité de la politique de succession de son premier dirigeant. A ce moment, nous avions souligné le fait que M. Denis Kessler, Président Directeur Général, dont le mandat court jusqu'en 2021, était âgé de 67 ans alors que l'âge du Président comme du Directeur Général était statutairement limité à 70 ans. Ainsi, la société apporte désormais des préc...
Aucun changement au sein du Conseil d'administration n'est soumis au vote des actionnaires à cette Assemblée Générale. A l'exception des représentants de l'actionnaire de contrôle qui ne perçoivent pas de rémunération, les rémunérations des dirigeants sont bien trop généreuses par rapport à celles des dirigeants des sociétés de taille comparable pour être soutenues (résolutions 5 à 10). Les politiques de rémunération pour 2020 seront approuvées en raison d'une légère amélioration liée à la mise en place d'un critère RSE. Cependant, elles continueront de générer des montants trop importants (...
Proxinvest attire l’attention des actionnaires sur plusieurs points. Tout d’abord il est à noter le changement d’actionnariat. En effet durant l’été 2019, la société Searchlight a lancé une offre publique sur les titres de la société Latécoère. Dans ce contexte la société l’annonce du rachat de ses titres détenus par les sociétés Apollo et Monarch et de la société CVi Partners, par Searchlight Capital Partners. De ce fait, ce changement d'actionnariat a entrainé de nombreuses modifications dans la gouvernance. Le premier effet visible est le conseil d'administration qui est totalement chang...
General: The AGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by postal vote or by granting authority to the proxies designated by the Company. One of the major shareholders, Roland Oetker, is the former President and since 2008 the Honorary President of DSW, the local partner of ECGS. This report has been prepared using standard ECGS guidelines. Evotec was founded 19...
In general, Danske Bank is in compliance with the Danish regulations relating to organisation and procedures of the Annual General Meeting. Under ITEM 4f it is proposed to re-appoint Ms. Carol Sergeant as Vice Chairman of the board of directors. Although she is considered independent, ECGS does NOT approve of the re-appointment of any board members who were part of the board of directors at the time of the money laundering scandal in Estonia. Accordingly, ECGS recommends to vote OPPOSE. Under ITEM 7 authorisation is sought to repurchase own shares. Although the authority requested woul...
General: The AGM is to be held in the form of a virtual AGM in accordance with the German Law to Mitigate the Consequences of the COVID-19 Pandemic. The physical presence of shareholders or their authorised proxies is not possible. The voting rights may therefore be exercised solely by postal vote or by granting authority to the proxies designated by the Company. Item 2: Management and Supervisory Board are proposing a dividend of EUR 1.10 per share (increased by 733.33% from EUR 0.15) which corresponds to a payout ratio of 53.40% per share (EPS: EUR 2.06). In view of the recent events rel...
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